Litecoin has surged to a four-week high, reaching $118 amid optimism regarding the potential approval of a Litecoin-based exchange-traded fund (ETF). Trading around $117, the currency saw a 15.1% increase following Canary Capital's amended S-1 registration with the SEC, suggesting regulatory engagement. Analysts are interpreting this amendment as a positive sign, indicating that the SEC has provided feedback that could expedite the review process. The filing addresses key custodial arrangements with Coinbase and BitGo, essential for meeting SEC standards. The adjustments also focus on compliance with marketing, legal, and tax provisions. Despite the rally, Litecoin's price remains 72% below its all-time high of $410 from May 2021, indicating potential growth opportunities should the ETF be approved. Attention is now on the SEC's leadership transition and upcoming responses to ETF proposals, which could further influence market dynamics.

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